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tv   [untitled]    October 4, 2012 4:30am-5:00am EDT

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on spending then it's no surprise that the economy isn't growing is does that come from an inherent misunderstanding of how economies actually work on the government's part so i do think it comes from a misunderstanding of how economies work you see i think the coalition came into office with a belief which was often expressed by george osborne that as soon as asperity was seen to be working as soon as the government committed itself to a credible plan of deficit reduction everything else would perk up there'd be so much confidence that the economy would start growing again but that was wrong because it's real factors not just psychological factors psychological factors are very important but it's the real factors the real market that is available to businessmen that cause them to want to increase. their business and the government was shrinking the market by its policy so it could talk up the economy all it
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wanted but the policies were pointing in a different direction austerity we now know hits the poor significantly harder than it's the rates presumably that means that during this recess and the gap between the rich and the poor well why didn't even fire yeah that's that's already happening a real real incomes have been going down because prices have been going up a bit and of course welfare benefits are being slashed. a lot of a lot there are lots of cuts in the public services and the rich are better able to insulate themselves against some of these effects for example house prices in london haven't gone down at all especially in the wealthy areas and in fact they may be going up a bit so the world of the wealthy has been well maintained but people who have relied on incomes from wages have. been hit and of course there has been since the
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beginning of the. recession a very big rise in unemployment even more significant perhaps a very big rise in part time employment is happening jay graphically as well where rich regions get richer and poorer regions get poorer due to a strategy by the governments in which areas that do economically well will apparently be rewarded while areas that do economically badly will be left to kind of fester and degenerate what's the economic justification for that well i think the government wants to back winners. and. and it believes that the winners come about through self. through through act the private private initiative sensually and so it wants to back back for strong and hope that that full encourage the weak but of course this gap between the regions has been longstanding and
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recently most of the world that's been generated in the last ten twenty years has been in southern england and so the gap between the north and the south which had been actually getting less in the mid maybe years of the century last century started to grow and economists seem to almost universally to reject austerity and embrace advocate borrowing and spending instead why isn't the government doing that well i don't think you're right i don't think the majority of economists do i mean the majority of economists say that the government is right to in its in its budget a budget deficit in its deficit reduction programs but it needs to do something else but what they don't explain is how doing something else can be made consistent with a reduction in government borrowing. you know government produces borrowing they
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say must reduce its borrowing then it's hard to know how it's going to do something else because unless it raises taxes for example that may be an alternative but very few people are advocating that taxes should go up so they're in this sort of halfway position a more or less there's no alternative to a stereotype but a stair it isn't a growth policy therefore the government should do something else but when it when you actually ask the more what should it do they get all vague. i think they should cancel a lot of the. sterritt a policy i think they should cancel the cuts in capital spending particularly and because of that that those schemes were ready to run when the kurdish and took office and they have been put into cold storage they could be this is buildings building schools building building houses hospitals all these projects that were cancelled because the government was cutting down its spending i think should be
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uncancel that i think they should be revived so you saying you've got to speculate to accumulate in a way not speculate spend you've got to spend because you see at the moment they're not meeting their deficit reduction targets they're not reducing the national debt in fact it's going up the whole time. and it and it's going up because the economy is going down the economy is what provides the government with its income and if the economy is shrinking the income of the government shrinks of the same type and therefore the deficit rises and something like that has been going on so the policy can't even succeed in its own terms one of your colleagues an economist called james keane has suggested a scheme that he calls quantities if easing for the public saying that the debt that private individuals have needs to be reduced under scheme he says that cash should be issued to individuals and those with debt would have to use it to pay
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that debt down and those without it would have a cash injection and it sounds like a great scheme and do you think it would work but well i've suggested this as well in an article in the new statesman last week yeah that's fine i mean if you put money in that into the hands of the people. and make sure they as you say spend it in one way or another. then i think that gives a boost to the economy because they could increase their spending and therefore set up a demand for shoes and clothes and. food and all the things that people spend money on and so that'll be good for business that's i think that's a good idea i actually suggested that the government give every household one hundred pound christmas present time limited so they need to do something with it can't just put it under the bed would that kind of policy be popular people were constantly hearing that there is no money now i think it would be popular i think
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everyone enjoys getting christmas presents. and people really expect them from the government we've seen a year wide backlash against austerity what do you think prime minister david cameron's chances are being reelected if he continues if this territory continues if there's no change of policy if the measures that are now being proposed small or is ineffective as one thinks they may be then i think his chances of winning the next election a very very small. because i think that there won't be a recovery his best chance of winning an election in two years' time is if there are proper green shoots of recovery and people can see them and they feel they're feeling better about the economy they're feeling better about their prospects they're feeling better go about getting jobs and feeling better about getting more income then i think he'll benefit from that and they're there have
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a good chance of winning but i don't think anything like that is going to happen under present policy so i think their chances of losing must be very high it's a keynesian idea that capitalism is a way towards working less and having enough is the current economic crisis is a result of that so it's time that we fall off the rails well that was a very long run i mean that was a long run idea that keynes had that in the end a successful capitalism should enable people to work less. and enjoy life more and he thought hours of work over time. would shrink as we got richer but that assume that we wouldn't fall into these holes that you know that progress would be steady and you wouldn't have any more slumps but we're in we're in a slump we had the big collapse and at this point the priority is to get as many people back to work as possible and get as much production as you can because that full
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speed things along speed the road to utopia. so i think you mustn't confuse the short what needs to be done in the short run and our long run prospects one of the things that the railed keynes is theory is this consumerism that we've all fallen under the spell of where we have to work more to buy more to have more are you worried that more crises will follow because of the way we work and because of what we're working for it's a very good question i think we are consumption mad society and in order to go on consuming we have to go on earning money by working and working harder than most people want to and getting into debt and then the whole machine is driven by advertising and that does create a problem it means that as technology reduces the number of jobs and yet we all under this impulsion to consume more and what how do we see things developing what
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should happen is that on the whole we should give up growth as the top priority. and make sure we have enough work sharing so that people can get work but not most people working forty or forty five or fifty hours a week and then another fifteen or twenty percent not working at all or only working very part time we need to sort of distribute work better among among among people. who want to work and also make sure there's more leisure so people can pursue you know pursue things for their own sake do things that interest them. and that's the way forward otherwise we're all sort of treadmill and i think you're right they'll be more and more crises as a result of it you know robert skidelsky thanks.
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it's perched atop a giant rock and the view from the tobolsk prevalence stretches as far as the eye can see up for a city that chilled all of siberia for centuries. it lost its economic importance even before it was bypassed by the chance i bear in railway but the a spiritual center. eat. things like these are a yearly occurrence thousands of orthodox worshippers of them selves and blessid water to commemorate the baptism of jesus. was there when you pull up on board them it doesn't matter if it's minus thirty
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it's a siberian tradition i do it myself every year for everyone to overcome their worst fears it is desirable to take the plunge. but that's a picture postcard church is the story of a city built by opportunist explorers political exiles and crafty fur traders. in the fifteen eighties the russians had only just conquered siberia taking it from the muslims. surrounded by enemies to be their stronghold constructed on top of the city but soon enough it became an economic hub siberian fire was the oil of its time bringing in a third of all russia's state revenue but the location head of the says for the russians. to moscow's one of the most popular places to send political dissent is not any people were exiled that once a giant bell that was used to incite riots was supposed to set a three hundred ten. the russian heiress across who led
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a revolt against an eight hundred twenty five known as the decembrists worse than hair and drove. there they created a replica high society adopting the latest fashions as soon as they came out or at least once they made it from paris to siberia. but the city also serves up some bit of irony for the russian royal family after the bolshevik revolution. this is the office was solemn nicholas the second spend most of the last year of his life his whole family had been exiled here they were the fairly comfortable existence this was a big house but they weren't allowed to see visitors or go outside themselves leaving the ordinary normal countryside life style they even had thoughts of a scape but within the design and his family would be dead.
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never again its political significance but the streets will always go with a glorious past it will likely provide the livelihood for some habitants in the future.
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the top stories and i'll see the tree house carried out all teary all teary attacks against syria despite calls from damascus not. violated somebody had their pride on their volatile state in retaliation to shelling from syria which killed prime sibylla and it's not good say during whether to authorize across the board in military operations. the f.b.i. has charged in the people planting as secret agents for moscow allegedly selling millions worth of restricted technology to the russian military. and the past santa plans a boost to its own budget at the expense of a stereotype threat date while in watergate greece an increased number of families
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can't even afford to raise their children and right now andrew is here to bring is the latest sporting. hello there good to have you company and these are the headlines fortunes and eat lose three two to melanson petersburg after an own goal condemns them to their second champions league defeat in a row. while angie look to maintain their unbeaten run in the europa league as they welcome the swiss side young boys. and almost go down why was that was for second time in a way to extend their lead in the age old question called. the first formula one seven time world champion michael schumacher has confirmed he will retire for good at the end of this season miss eighties had already announced last week that schumacher would be replaced by lewis hamilton next season and while there had been speculation the forty three year old german could move he has now announced in the
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last few minutes he used to retire no one has won more championship titles than schumacher initially retired in two thousand and six but came back to race with miss eighties and twenty ten. now let's go to the football and eight suffered a cruel three two defeat at the hands of ac milan in the champions league last night and their own goal from thomas who handing the italians a victory in simply to bird battled back from two. gold stand early strikes in the mountain and stephan are sure are we saw the visitors go to work at the stadium however reconciling hold pull one back and sure of course then leveled soon after the break but with a quarter of an hour left thomas who began them put three with a net so three two to milan finished result leaves any bottom of group c. without a win after two games malaga are top there after their three nil demolition abandon that. elsewhere christiane i'll have tricked story on madrid transit i.x.
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for one in amsterdam it's his second hat trick in a week and his first in this competition and moves him up nicely for the classical classico clash with barcelona at the weekend it also puts reale top of group d. with c. when through to the next after conceding a last minute penalty to manage the city to draw one one in england city boss roberto mancini not overly impressed with his side's performance. in the champions league is totally different from every championship. when you play play against the best player. and. when you have a chance you need to score if you don't score and after you've conceded like we can see the disease is difficult at the weekend we. lost will have also made it into their they've got a three one home victory over olympiacos of greece you know you look at podolski and aaron ramsey scoring for the gunners they now top group based half the shelf and one player drew one one on thought the three points at the emirates were well
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it is a. new game it's a great result for we made itself they were. very good i thought the organization was excellent and they made it so for us. i think we improve satloff we do. a little bit nervous have to say it's arms but overall listen we. well big spending perry sanjay man came unstuck out porto losing one. with the winner in the eight minute result puts the portuguese out for top of group a they're the nomic here are tied with p.s.g. on three points that you know when denominated grep. now the europa league takes center stage on thursday russian premier league leaders and the mccaskill are preparing to take on young boys have been in the second game of the group stage sitting side remain unbeaten in europe so far after drawing with naisi but the dutchman has warned the swiss will be a difficult test. as more. six wins one draw and no losses
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that's how our. european track record read so far this season the d'agostini side have scored twelve goals and conceded only once late on a wooden is it in their made in group game domestically n.z. have also won the last six games to put them top of the russian premier league for the first time but guus hiddink is not underestimating his next opponents we started reasonable well again is difficult to do in this but i know in at home it will be maybe even more difficult to get results and it will not be an easy an easy game against a team with experience they have experienced in the past also in europe although teams are changing. but. they have they have some experienced players so we have a very difficult match tomorrow at. the dutchman will have most of his players
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available some who will it and less in that row are likely to spearhead the attack despite this threat sushma table side young boys will hope to get something out of the game they started their campaign with a fine three hundred feet to a youthful liverpool side and know another loss would leave their european dreams in tatters. if we don't get a result it will of course be a scenario. points from two games is something we want to avoid at all costs we're here to get something or at least a point opposite so it's paramount that we learn from the defensive mistakes we made against liverpool. young boys will go into that time having posted their highest domestic league winner of the season on sunday a six two home win over set of it f.c. which should do no harm to their confidence and although their captain said his side were all too aware of the danger posed by angie's star studded team he's really looking forward to the challenge. is good to be able to square up to such quality players to see how we. are really up for it is the most of challenge and i
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wouldn't say no to go home with a new mule draw. so young boy's dream of reaching the knockout stages of the europa league could effectively end with defeat to angie on tuesday evening was hitting side on the other hand are top of their domestic league and want to continue their good form hitting has hinted that he won't make many changes to the game against young boys but he may well be tempted to because following that game start a long run of games which begins with on sunday michael r.t. moscow at the moment it's liverpool who pay and they entertain naisi the saving of english premier league side feel a little under strength side for their victory over young boys last time manager brendan rodgers says star striker luis suarez fielder steven gerrard are likely to play some part. you know i always look to each. and pick a group in a team to win the game sure. new zealand be
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a very strong team because some excellent players. and it is are the results. the season so far obviously beaten ac milan and i'm beaten in the last five games so we need to ensure we have a group strong enough to look to win the game and but those players will be involved. and the other russian team. against. from has a big. midfield that has been handed a five match ban by the russian. he was dismissed for the second time in ten gangster in sunday's. defeat to the twenty two carded after lashing out a defender. on the ice the normal moscow have extended their winning straight to four matches with
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a two no victory over. them top of the western conference in the k h l koreans watch the latest picture in the russian capital. it was a highly anticipated fixture to now in other words he won three of the last in cups in the cage and sit on top of the western eastern conference's respectively. it is also a chance for revenge a solution to the most of all it's just last week in the rebuild charges completely dominated the first period the done is becoming a major threat for the opposition but these efforts won't enough to break the deadlock rather unfortunately for a bourse as it was denied to produce the opening goal soon after the break. between keeper constantine barry lynn from close range from this point fence at the mega support their inner enjoyed an open game with. but unity is. well xander reader. to the mark to say the least and there was little surprise when
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both goalies were named the team's best players at the end of the night but before the lights were able to find the net for a second time defender yana yellow smaller gets into the school shit after a decent first. n.h.l. start coming away with one assist although he says his personal statistics i never too important business here. steam keeps winning and. so i have been given a lot of support from players and coaching staff and that really helps me to get back into european hockey and as for my personal good form and i'm quite satisfied with it as long as dinamo in the game because if you score a lot but your team loses you can be really happy about that stuff going on that basis he's a happy man at the moment since his return to deny they won five of their last six games in the majority of the season still to follow the surely a lot more to expect through their skin and company. thirty.
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than let's finish with football and an amazing goal the serbia good thing working a corner like you've never seen before three players doing a dummy before the ball flashed by and of you give a great saying work great like work said he went on to thank you opponents knocked over for now. the stuff that's all support from athletics. well. technology innovation all the developments from around russia we've got the future covered.
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